Jammu & Kashmir Bank (JKBANK), was incorporated in 1938 as a government company to extend banking facilities in Jammu & Kashmir. Later, it was allowed to expand to all parts of the country. As on 31st March 2005, the bank had a total of 500 branches/offices and 170 ATMs across the country. Of the above, 423 are computerized and 200 facilitated with anywhere banking. It has set up a central data center and modified its 78 offices in Delhi and Mumbai to core banking solutions (CBS). The bank is the only private sector bank entrusted with the responsibility of convening state Level bankers` committee for 8 out of 14 districts of Jammu and Kashmir state. The bank has two rural banks. The bank has diversified its business activities into insurance, both life and non-life. The bank has also diversified its operations to include depository services and insurance products. It is registered with NSDL and CDSL to provide depository services and also associated with IL and FS Investsmart to provide broking services to boost its fee-based income significantly. It has tied up with Metlife to offer life insurance and with Bajaj Alliance General Insurance Co. to offer general insurance. The bank also tied up with American Express Bank and Master Card International to foray into the card business. The net NPAs for last fiscal stood at 1.41% and capital adequacy ratio stood at 15.15%.
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